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334 Underhill Avenue, Yorkt...

Frank Sperandio, Jay Maiolini & Keith O'Dowd Acquire Office Property In Westchester County For $5.6M
SOLDOffice

Frank Sperandio, Jay Maiolini & Keith O'Dowd Acquire Office Property In Westchester County For $5.6M

334 Underhill Avenue, Yorktown Heights, New York 10598, United States

$5,600,000

$224/SF

Building Size

25,000 SF

Asset Type

Office

Closing

Apr 28, 2022

AI

Located in Westchester County, the office property at 334 Underhill Ave. has been sold for a price of $5,600,000. The transaction took place on 04/29/2022 and involved a total area of 25,000 square feet. The property, sold by Bob Spaddacia and John Devito, was bought by Frank Sperandio, Jay Maiolini, and Keith O'Dowd. The sale price equates to approximately $224 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,600,000
  • Square Footage: 25,000
  • Address: 334 Underhill Ave.
  • Market: Westchester County

Redwood Realty Advisors represented the buyers in this transaction. Sean Campbell, Michael Scrima, and Thomas Gorman, Jr. from Redwood Realty Advisors were the brokers responsible for the deal.

Notably, Sean Campbell is the person in charge of all retail and office sales for Redwood's New York office, specifically serving the lower Hudson Valley region.

Players

Michael Scrima

Houlihan Lawrence Commercial

Broker

$214.1M

vol

60 deals

Broker
Thomas Gorman Jr.
Verified Badge

Thomas Gorman Jr.

Houlihan Lawrence Commercial

Broker

$240M

vol

62 deals

Broker

Frank Sperandio

Buyer

$9.9M

vol

2 deals

Buyer

Yorktown Heights Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.83%

Cash-on-Cash

-0.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93